FIRST QUARTER 2015 INDUSTRY PERFORMANCE
According to FirstLook data from Callahan & Associates, the credit union industry's assets have grown 5.5% year-over-year to top $1.17 trillion as of March 2015. Total loan balances at credit unions hit $731.2 billion, up 10.6% from the previous March. Credit unions originated $89.5 billion in loans in the first three months of 2015, marking a 20.8% year-over-year growth. Here are other notable first quarter trends:
Loans: As of March 2015, all major consumer lending categories reported faster year-over-year growth compared with the previous March. Moreover, the industry posted annual origination growth in every loan category, including first mortgage, other real estate, consumer, and member business loans. Notably, first mortgage origination skyrocketed in the first quarter, growing 50.8% year-over-year to top $26.4 billion.
Capital: Credit unions have nearly 133 billion in capital, up 8.0% from the previous March.
Members: Membership increased 3.0% over the past twelve months, reaching 101.4 million as of March 2015.
Relationships: The average member relationship — the total dollar amount of loan balances (excluding member business loans) and deposits per member — topped $17,115. That’s an increase of 4.2% from March 2014.
Share Growth: Share growth is picking up at credit unions, primarily driven by strong growth in core deposits. The quarter’s 4.4% growth is up 70 basis points from one year ago.
The Bottom Line: In the first quarter of 2015, credit unions posted the highest year-over-year growth (6.6%) in total income of last seven years. This impressive growth in total income is driven by higher loan interest income, fee income, and other operating income.
FIRSTLOOK & QUARTERLY ANALYSIS
Industry Performance By The Numbers (1Q 2015)
A breakdown of the industry’s financial performance and impact in 1Q 2015.
3 Takeaways From Trendwatch 1Q 2015
First quarter performance data showcases current and future areas of growth for credit unions, including first mortgages and share accounts.
By: Erik Payne
San Antonio FCU Posts A Record Mortgage Performance
The Florida credit union reported a 97% increase in first mortgage originations in the first quarter of 2015.
By: Janet Lee
Forum Credit Union Posts Double-Digit First Quarter Consumer Loan Growth
The Indiana credit union increased auto loans 39% over last year.
By: Sam Taft
REPORTS FOR 1Q 2015
The Consolidated 2-Year Credit Union Financial Statement (1Q 2015)
This must-attend quarterly event for credit union leaders covers performance trends, industry success stories, and areas of opportunity. Callahan bases its analysis on data gathered through its FirstLook program, which means attendees will find insight they won't find anywhere else weeks before the official NCUA data release.
Callahan Clients: Watch Trendwatch 1Q 2015 On-Demand
UPLOAD YOUR OWN DATA
Callahan's FirstLook program collects quarterly performance data from individual credit unions and allows institutions to run reports in Peer-to-Peer weeks before the full data set is available. Don't wait for us to find you; take advantage of the opportunity to gain early insight into the industry's quarterly performance and upload your credit union's 5300 Call Report data today.
To upload your 5300 Call Report data:
Log into Peer-to-Peer.
Go to "Settings."
Select "XML 5300 Upload."
Follow the prompts.
Begin your analysis.